Like neoliberalism as a whole, the privatization of the electricity sector has a proven track record of abysmal failure. In California, in Ontario, in Nigeria, in Indonesia, and so on, privatization has not only NOT achieved the promised results of efficiency, lower costs, and consistent supply; but on the contrary, supply has been deliberately manipulated to justify higher prices, control of power grids has been disastrously managed, and corruption has characterized the entire process.
Private companies have no social contract with the population; they are obliged to their shareholders. Every company is in the business of making money, not the business of improving the quality of life for the people.
The same people who champion neoliberalism, despite its proven catastrophic effects, are of course, the same people who champion privatization of basic state services, despite the proven catastrophic effects, because the catastrophic effects are highly profitable for them.